BASE YEAR OF PAYMENTS

For 2010 the Virginia Tobacco Indemnification and Community Revitalization Commission ("the Commission") has authorized payments from Phase I Funds to flue-cured producers and burley producers based on tobacco production for the 1998 crop year.

For 2010, the Commission has authorized payments from Phase I Funds to flue-cured and burley quota owners who owned quota during the 1999 crop year. Quota owners who owned flue-cured or burley tobacco as of July 1, 1999 may be eligible for payment.

PAYMENT DIVISION

The division of monies for 2010 between flue-cured and burley is based on the average of basic quota between 1995 through 1998.

The 2010 Phase I payment rates established by the Commission are:

Flue-Cured Quota Owners

  12.02 cents per pound of Basic Quota

Flue-Cured Producers

  9.86 cents per pound of Basic Quota

Burley Quota Owners

  19.10 cents per pound of Basic Quota

Burley Producers

  10.19 cents per Payment Pound



BASIS OF PAYMENT

Basic quota is the basis for payment for (1) flue-cured producers; (2) flue-cured quota owners; and (3) burley quota owners. The average of effective quota and marketings is the basis for payment for burley producer payments.

DURATION OF PAYMENTS

The 2012 payment will be the final distribution of Phase I Indemnification funds. At that time, the Commission will have successfully indemnified burley and flue-cured producers and quota owners.

Phone:
Mon.-Fri. 8:30 AM - 4:30 PM excluding holidays
Toll Free 1-888-629-7682
Local 804-697-1869
Fax: 804-697-1860

Mail:
Tobacco Indemnification Program - Phase I
c/o Troutman Sanders LLP
P.O. Box 1198
Richmond, Virginia 23218-1198

Email:
Tobacco@vatip.com



© 2010 Troutman Sanders LLP